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Nielson Motors sold 10 million shares of stock in an SEO. The market price of Nielson's stock at the time was $39. Of the 10

Nielson Motors sold 10 million shares of stock in an SEO. The market price of Nielson's stock at the time was $39. Of the 10 million shares sold, 4 million shares were primary shares sold by the company, and the remaining 6 million shares were being sold by the venture capital investors. Assume the underwriter charges 6.1% of the gross proceeds as an underwriting fee which is shared proportionately between the primary and secondary shares. The amount of money raised by the venture capitalists is closest to ($ Million) (2 decimal places)

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